Why I sold my houses in America and England – Dangote

*admits renting a place in Abuja Alhaji Aliko Dangote—whose single-train refinery is the largest in the world with 650,000 barrels per day capacity—surprisingly has no houses outside of Nigeria! To the name of Africa’s richest man (with real time net worth of $13.1 billion in the evening of Monday, July 15, 2024) are two houses […]

General Jul 16, 2024 0 13 Add to Reading List

Why I sold my houses in America and England – Dangote

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*admits renting a place in Abuja

Alhaji Aliko Dangote—whose single-train refinery is the largest in the world with 650,000 barrels per day capacity—surprisingly has no houses outside of Nigeria!

To the name of Africa’s richest man (with real time net worth of $13.1 billion in the evening of Monday, July 15, 2024) are two houses in Nigeria in Lagos and Kano. The place he stays in the federal capital territory (Abuja) is rented.

He sold his London house in 1996.

During a media parley (on Sunday, July 14, 2024) on the extensive grounds of the refinery and petrochemicals company in Lagos, the President and Chief Executive of Dangote Group revealed why he has no houses now outside of Nigeria.

Dangote, 67, and 152nd on the Forbes rich list today, explained:

“The reason I don’t have a London or America house is solely because I wanted to focus on industrialization in Nigeria.

“I am very passionate about the dream and apart from my Lagos house, I have another one in my home state, Kano, and a rented one in Abuja.

“If I have houses all over, in America and co, I would not be able to concentrate and build something for my people.”

He disclosed that he sold his London home in 1996, and ploughed the proceeds into his business.

Same with his two homes in Atlanta (United States of America).

Whenever he travels abroad, he prefers staying in luxury hotels where his only obligation is to pay (and not worry about paying staff and maintaining big houses with the accompanying headaches).

The media parley attended by top journalists across Nigeria—which also had top directors and managers of the group including Mr Devakumar Edwin (vice president of Dangote Industries Ltd) and Hajia Fatima Aliko Dangote (group executive director, commercial operations, Dangote Industries Ltd)—lasted all day with a tour of the refinery and petrochemicals complex in Ibeju-Lekki.

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